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Feb 8, 2013 6:00am EST
that are indispensable not just for the beneficiary countries, but for europe as a whole. with all of us would benefit in terms of growth. cultural is another common policy which enables us to boost agriculture industry which is precious to the european union. but which also must be respectful of the environment. and that's why world development will complement that. not offsetting these two policies against one another. that will be easy to do. we must keep the pedestal of european policies because otherwise how can we go from the? my second principle is that the budget, the financial framework which is to be proposed must continue the growth partner we adopted in june of this year. last year. now, that means that we must promote innovatioinnovatio n, infrastructure, new energy, new forms of energy because there will be no consistency is in june we were to set out a roadmap and then we're have a deflationary pack and the fall of the european financial framework. my third principle is that the budget must support the most vulnerable of europeans, those most exposed to the crisis, the poorest of the po
Feb 18, 2013 8:30am EST
.0. so for 40 years really, during the entire cold war, the purpose of nato was to protect western europe against the possibility of soviet military, or indeed, ideological conflict. (military marching music) >> this small group of men in the kremlin had long ago dedicated themselves to the spread of communism by all possible means. they control russia. they'd planned to control europe and the world. >> the comment at the time was that nato's role to keep the russians out, the germans down and the americans in. >> the great achievement is the fact, uh, that nato prevented the cold war from getting hot. >> that succeeded beyond anybody's wildest dreams, in 1989 when the berlin wall came down, the cold war ended, the soviet union broke up. >> but as threats to member nations subsided, nato shifted its focus toward helping non-members procure the same freedoms nato states enjoyed. >> after the end of cold war, nato contributed the framework for transition in europe and we have given access to former communist dictatorships and today they are highly valued allies within nato. i think these a
Feb 11, 2013 5:00pm EST
access and they affect them directly, validating the political guidelines that europe follows. let's do that in their name. this is what i believe, mr. president. >> thank you. mrs. chapman? mrs. chapman? >> thank you. i would like to speak to the president of the french republic, not to friends what. it is an honor to speak on behalf of my group. this is a difficult time and we should be looking at europe's future. we should also look at why the european union exists. let's also think about what this is -- what citizens aspire to. they want more solidarity at the international level. you have heard the broad range of views supporting broad intervention in mali. however, we cannot abandon all made -- but cannot defend only the interests of one state and we need a comprehensive plan for europe. this is what we're doing it with a changing europe scores. budget negotiations on the multi-annual framework are a test of that solidarity where our credibility is put to death -- protest. -- put to the test. i would like to say that for our group, it is known as well. it was not a policy of the e
Feb 22, 2013 6:30pm PST
the court room free on bail. we go live to south africa for more. >> restoring faith in europe. the german president sets out his future for the vision of the european union. >> and the final day of campaigning in italy -- why sunday's national election has the world nervously watching. well, his decision kept all of south africa and much of the world in suspense today. a south african judge said yes to bail for oscar pistorius, the paralympic star accused of murdering his girlfriend. >> the man known as the blade runner was forced to post $113,000, and over his passport, and turn over his gun collection to police. >> pistorius and his attorneys have three months to put together a defense. >> oscar pistorius was braced for the worst as he entered court, but his defense did a good job after he revealed mistakes in the prosecution case, the judge ruled that pistorius could go free on bail. no cameras were allowed in the courtroom while the decision was read. the olympics are stood in silence as the announcement was made -- the olympic star. supporters applauded the ruling. >> although we obv
Feb 16, 2013 8:45pm EST
. this issue of culture and how it relates to the economy is at the heart of my book, "becoming europe" because at one level becoming europe is certainly about what has happened in europe and why it is now regarded as the sick man of the global economy. my book is also about how some of these cultural and economic trends are starting to manifest themselves in the united states, particularly over the past five years. and in some respects i think it's rather ironic that america is seemingly drifting in this direction of economic europeanization. because whether the colossal level is dead the increasingly unaffordable welfare state, struggling banking systems, soaring levels of unemployment, stagnation or low economic growth, double and even triple dip recessions, violence and riots etc. etc., there is a widespread sense i see that what europe is experience king is more of a recession. instead i think there's a sense that western europe present economic crisis reflects some deeper traumas. and not terminally because of external pressures but rather the inherent contradictions and his functionaliti
Feb 17, 2013 4:45pm EST
at one level becoming europe is what has happened to europe and why it is now regarded as the sick man of the global economy. but the book is also about how some of these cultural and economic trends are starting to manifest themselves in the united states particularly in the past five years. in some respects it is rather ironic that america is seemly drifting in this direction of economic european and asian because there is the colossal level of debt, the increasingly unaffordable warfare states, struggling banking systems come soaring levels of unemployment, stagnation or lubber economic growth, double even triple dip recession is, violence and riots etc. i think what europe is experiencing now is no ordinary recession. instead i think there is the sense that western europe's present economic crisis reflect deeper because of external pressures but rather because of some of the inherent contradictions and dysfunctional the that's encouraged by what i call european economic culture over long period of time. all of that is to say that if america's economic culture as i call it continues
Feb 11, 2013 12:00pm EST
in europe. it's very interesting. i think we're seeing a defacto resorbing responsibility in the public sector. is this if it's the best solution? probably. your attitude is, we get stuff done and we're going to go through this list and figure out some kind of intermediary reinstitution. we will figure this out. very different on a mind set kind of perspective. >> just about every single success for recovery going back the last 30 years has relied on exports to help drive growth. it's very difficult to operate financial crisis for domestic demand to raise. we have seen that every year and quarter since 2008. you have to revise it -- you have to rely on others to fuel you. can you talk to is a little bit about your attitude toward domestic manufacturing being export first? in the states, we are not like germany. we are not surrounded by all of these companies requesting goods. we are the biggest consumer in the world. talk a little bit about how to refocus us for an export-driven world with 1 billion new customers. >> it is a really interesting and opportune question. one thing we have b
Feb 26, 2013 6:30pm PST
are finding it in german government bonds. >> we stay in europe where it is sharply lower on the day for the dax. about 2.25% lower, all down to that uncertainty in italy. over in new york, a different picture. stocks recovering a bit after a big sell-off yesterday. investors are pretty optimistic about news of the fed stimulus program. euro-dollar is trending lower. >> world powers have begun a new round of talks with iran over its nuclear program. the discussions in kazakhstan got under way with both sides making offers to end a decade of deadlock over the issue. the five permanent u.s. security council members are offering to ease sanctions if iran curbs its uranium enrichment program. >> in the meantime, u.s. secretary of state john kerry says he believes a diplomatic solution can be reached with iran. his comments came during a press conference in berlin. he is on a two-week diplomatic tour that began in europe. >> the agenda for his talks today also included plans for a free-trade agreement between the eu and the u.s. kerry also took time out of his schedule to meet with young
Feb 18, 2013 10:30am EST
of europe, japan, china and south korea. next on booktv. this is a little over an hour. [applause] >> okay. first of all, it's great to be back at the japan society, and we enjoy our relationship that way. tokyo, for the mcgraw-hill companies, has been the headquarters of our asia pacific operations for 25 years now, and we enjoy a terrific relationship and a lot concern in a lot of different ways. one of many by colleagues is with me, doug peterson, who just joined us from citi, and he is heading up standard & poor's ratings, and we welcome you, doug. and doug has lived with citi all over the world and as such as lived quite a bit of time in japan itself. so it's great to be with you tonight as well, doug. let's see, in terms of this whole notion of the book, you know, by the way, it's a very modest title, banker to the world. [laughter] you know, when i heard of this -- and i'm a very close personal friend of bill's, like everybody in this room is, and so when testifies talking to me about this -- when he was talking to me about this concept of what he wanted to write about, lessons of d
Feb 18, 2013 10:30pm EST
the economies of europe, japan, china, and south korea. next, on booktv. this is a little over an ba okay. it is great tock be back at the society. >> for 25 years now, we enjoy a terrific relationship with the a japan society in so manyys wayse ved quudible] bed we have lived quite a bit o time in this is great to be with you let's see, in terms of this whole notion of the book, you know, by the way, it's a very modest title, banker to the world. [laughter] you know, when i heard of this -- and i'm a very close personal friend of bill's, like everybody in this room is, and so when testifies talking to me about this -- when he was talking to me about this concept of what he wanted to write about, lessons of debt cry cease and all of this, i just knew that it was right in our sweet spot in what we needed to be able to do. so we were able to convince him, and so now i'm not talking to you as his friend, i'm talking to you as his publisher. [laughter] and we had this decision, you know, we were going to do this book, and we kid. and we did. now, the ink wasn't even dry on this book when
Feb 23, 2013 2:15pm EST
, the heart of my book, becoming europe. because the -- becoming europe is certainly about what has happened to your and why it is now regarded as the sick man of the global economy. but my book is also about how some of these cultural and economic trends are starting to manifest themselves in the united states, particularly over the past five years. and in some respects i think it's rather ironic that america is seemingly drifting in this direction of economic european rises to stop economic european and asian. whether it is the plot -- colossal levels of debt, the increasingly unaffordable welfare states, struggling banking systems, stagnation or low economic growth, double, even triple-dip recession is, violence on the rise. there is an opinion that what you're experiencing now is no ordinary session. instead, i think their is a sense that western europe's present economic crisis reflects some deeper traumas. and not primarily because of external pressures, but rather because of some of the inherent contradictions. incurs protocol european economic culture overlong my time. america's econ
Feb 21, 2013 6:30pm PST
. there were no wars in europe in 2012, but the fallout from the syrian civil war is being felled -- felt as the number of refugees increases. >> sports where giant nike said all endorsements of south africa's blade runner, oscar pistorius, will be put on ice while the athlete is on trial for murder. it is just one more twist in this case. there is already a new head investigator in the murder case. he pushed to have premeditated murder charges pressed against pistorius and is now off the case because he is facing murder charges himself. >> south africa's police commissioner was under attack. she put a new detective on the case after day three of the bail hearing. ma'am initially the process of establishing a team of highly skilled and experienced detectives in the south african police service. >> the decision was announced shortly after news of the charges against the first investigator came to light. he faces seven counts of attempted murder related to an incident in 2011. he allegedly fired on a minibus loaded with passengers to try to stop the vehicle. he is due to go on trial in may.
Feb 27, 2013 2:00pm PST
by the barbarians and the lands of western europe were overrun by pagan tribes in the dark ages, roman civilization, and above all roman christianity, triumpd in the long run. converted to the new faith, the former barbarians became the heirs of rome and the founders of modern europe. in the 11th and 12th centuries, the period we call romanesque, there was a remarkable revival of art and especially architecture. in the words of a contemporary, "it was as if the whole earth had cast off her old age "and was clothing herself everywhere in a white garment of churches." two of the most powerful forces molding the development of romanesque art and architecture were pilgrimage and the monastic movement. the romanesque church here at vezelay in france embodies both-- benedictine monastery and starting point on the pilgrimage route to santiago in spain. the story of vezelay echoes the story of europe during the crucial years of transition between the 9th and 12th centuries. it was founded in the 860s in the great cultural and artistic revival of the french emperor charlemagne. vikings burned it in the viol
Feb 24, 2013 8:00am EST
like dirt. >> when it comes to refugees and migrants, agrees is the front door of europe. at one point, 300 people a day were crossing greece's border with turkey illegally. on mass roundup was 70,000 people picked up off the streets in six months. these are the figures, but behind them, he minute stories. we have one man's account of his journeys through the system. this was the biggest textile factory in greece. today, it lies abandoned and is famous for something else. felt here a year ago, hundreds of migrants were squatting in the factory, desperate to get out of a greece. >> it does not feel like europe. this is no europe. >> my guide was this man. a moroccan living in the factory. place,en, as we left the i never expected to see him again. today, at the factory looks quiet, deserted. there has been a big police roundup of the migrants and the whole place looks empty. the men whopened to lived here? to luck and facebook, i am about to find out. muhammed, the man who took me in here a year ago, has tracked me down from inside a prison cell. now he wants to tell his story. the stor
Feb 8, 2013 4:00am PST
in europe and profit-taking by some traders. linkedin leap! shares were up 11% at one point after the close last night. the social media site's profits were well above wall street expectations. 202 million members have signed on, up 39% from a year ago. many are job hunters. coinstar, on the other hand, fell up to 10% on a weak forecast. lance armstrong lawsuit: the disgraced cyclist is being sued for $12 million in prize money from the tour de france. and, despite the new snow and rain, a new report shows severe drought conditions are expanding in key farm states. todd horwitz of the adam mesh group joins us for trader talk this morning. they are calling it "snowmageddon" in the northeast, with the big blanket of snow. will that affect trading volumes today? > > good morning. you know, i don't think so. with today's electronic trade, we can trade from anywhere. so you will have people trading from home, they will be trading from their cars stuck in the snow, they will trade from everywhere. the volume has already been so low that i don't think much more can affect it to make it much lower
Feb 7, 2013 6:00pm EST
as big as wrenching economy that is still europe. i said they're not impacting us so far, but the measures put in place last year is still working. meaning that europe has shown a degree of stability and i don't want anyone to sell our stocks because of the declining economies there. that would be spain and italy as well as a potential for a real plunge that no one is looking for -- france. my call has been the right call so far to start 22013. in fact, it's been right call since sunday when mario draghi said he'd do whatever was necessary to preserve the currency yu union. he has done a great deal. now the free ride could be winding down. draghi talked about how the euro which is powered 10% higher than the dollar is now too strong and how it's hurting european competitiveness. he did not however cut rates. taking back what his predecessor put through since the crisis erupted in 2008. it was a disaster. it helped make europe's crisis much worse than ours. where a fed chief after an initial they know nothing hesitation, then moves swiftly and brilliantly to the lowest rat
Feb 14, 2013 4:00am EST
in the fourth quarter. the ceo tells cnbc, europe remains a drag. >> europe is depressed. it's going to take time. to solve it in part of europe is hard hit as it's going to take longer. >> and a mega merger is cleared for takeoff. reports say the boards at amr and us airways sign off on their $11 billion deal to create the world's biggest airline. >> announcer: you're watching "worldwide exchange," bringing you business news from around the world. >> all right. you're wearing an appropriate valentine's day shirt. >> i am. i tried. there's a little bit of pink if we look at your tie very closely. if you want to know what's happening in the markets today, hold on, ubs, the valentine's day gdp's massacre. >> yes. >> because if you look at when it's japan shrinking at an annualized rate, germany coming in on quarter on quarter, france coming in -- well, we know they had a recession earlier in the year, as well. minus 0.9% on the quarter been minus 2.7 on the year. >> oh, that's brutal. >> it's the sixth consecutive contraction and that match tess recession of 1992 to 1993. the minus 0.9, it was
Feb 2, 2013 4:30pm EST
challenges facing the economies of europe, japan, china, and south korea. next on book tv. this is a little over an hour. [applause] >> okay. first of all, it is great to be back. we enjoyed our relationship that way. tokyo has been the headquarters of our asia-pacific operations for 25 years now. we enjoy a terrific relationship and a lot of different ways. one of my colleagues who is with me, doug peterson who just joined us from the city, and he is setting up. we welcome you, doug. dougie is all over the world. as such, he has lived quite a bit of time in japan himself. it's great to be with you tonight as well, doug. let's see. in terms of this whole notion of the book, by the way, a very modest title, banker to the world. when i heard of this, and i am a very close, personal friend of bill's, like everyone in this room is. and so when he was talking to me about this concept of what he wanted to write about to lessons of debt crises and all of this, i just knew that it was right in our sweet spot, what we needed to the will to do. so we were able to convince them. so no i'm not talking
Feb 13, 2013 6:30pm PST
afghan operations next year. turning to europe, he raised the prospect of a free-trade zone to encourage commerce with european union countries and believe fears his new asian focus would come at europe's expense -- the late -- belay fears. >> trade that is fair and free across the atlantic supports millions of good-paying american jobs. >> but in a bitterly divided washington, president obama will have his work cut out for him if he wants to push his agenda through. >> well, that trans-atlantic free-trade zone has long been a goal for the european union. after years of very little progress, the e appears to -- the eu appears to have an ally in what has. >> president obama announced the start of trade negotiations on a trade deal. brussels said talks could begin before summer. if successful, those negotiations would result in the biggest financial trade deal ever. >> the eu and u.s. already trade some 2 billion euros worth of goods and services every day. about 1/3 of total global commerce. president obama wants to bring that commerce into what would be the world's biggest free trade zon
Feb 4, 2013 7:00am EST
. an investigation reveals match-fixing on a scale not seen before. the result of so many of games in europe's top tournament are now in question. millions made bay crime syndicate in asia. >> a total of 45 club officials and players from more than 15 countries. >> bone of contention. british archaeologists say they have found the remains of richard iii. we speak to the experts who say it's time to re-assess his reputation. >> man in the middle. richard cameron hosts talks between two countries. aaron is here with a look at the business news and jet another headache for spain's prime minister. >> george the pain in spain continues. more than 26 op unemployed and 5 million people who are very angry that the bloke right here. the country's prime minister who is now entangled in a corruption scandal. but will all this rattle the market confidence? it's 12:00 noon here in london. 7:00 a.m. in washington and 1:00 p.m. in the hague where officials say they have unearthed football match-fixing on a scale not seen before. the european police organization stays scam involves millions in bribeds and a crime
Feb 25, 2013 5:00pm EST
the garlic belt. be careful of a miracle that seemed too good to be true. this is europe. it's not fixed. it is not necessarily better. the divided parliament in italy, not a big deal. this is not greece. but when you look at the entirety of what people had priced into europe, when you look at how oversold treasuries were, how gold was, how overbought the s&p was, look at the move that the yen has had, we haven't seen these types of moves all year and in many cases, we haven't seen these in months, so, the big macro guys are out there, they were moving stuff around and we had big volumes going through. >> interesting to see what people still care about. happened a couple of weeks ago with europe, people still focused on europe, everyone thought that was in the rear view window. between that, bernanke, this is what people are still focused on. it's still here. >> what about you, karen? >> you know, we don't really trade a lot. it was -- i thought it was pretty orderly and not so particularly eventful. that last half hour, though, was fairly ugly. you know, we didn't really step in and buy
Feb 7, 2013 6:30pm PST
/south confrontation with europe's rich northern countries calling for a further deep spending cuts. >> but in the south, countries like greece and spain say four years of austerity are enough. they are calling for spending to be eased to spur growth and create jobs. >> after it failed budget summit in november, stakes are high this time around for some kind of deal. >> british prime minister david cameron wants the eu to mend what he sees as its wasteful ways. he made his point by arriving on foot, not in a chauffeur-driven limousine. he went into the talks in a bullish mood. >> the numbers that were put forward were much too high. they need to come down, and if they do not, a to be a done deal. >> that puts him on a collision course with many other eu leaders who argue the block needs a $1 trillion budget to fight unemployment, fund education and training and invest in the future. >> i of europe goes for compromise at any cost and puts common policies, agriculture, and growth at risk as a result, i will oppose it. >> with opinions so clearly divided, german chancellor angela merke
Feb 14, 2013 6:30pm PST
sweeping europe. the government in paris has accused a firm of knowingly selling horse meat as beef. the company denies that allegation. >> french authorities have been investigating the complex supply chains that ended with be processed meals being tainted with horse meat. so far, the scandal has been treated as an issue of fraud rather than public health, but in britain, officials say a potentially dangerous horse drug might have entered the food chain. >> meanwhile, the scandal has reached germany, too. >> more german supermarkets have pulled products suspected of containing horse meat as the scandal spreads throughout germany. it is still unclear who is responsible. the supply chain stretches across your -- your representative. a luxembourg company ordered beef from a french firm, which passed the order to a trading firm in cyprus. the company subcontracted to a dutch firm. the french media has uncovered what they called troublesome bills of sale. the british environment secretary said the problem was not simply one of public health. >> i think what we got involved in this horse
Feb 26, 2013 2:00am PST
in the world located on two continents -- europe and asia. that is significant not just from a political point of view, but earthquake researchers also keep an eye on turkey's largest city. i see tectonic plates under is and will start moving, there is a high risk of a severe earthquake, but these warnings are currently being ignored. its symbol is dealing with an increasing number of tourists and rich investors. it is a top location, which means good business for the building sector. them as moving company is doing a raging business. he is in a perfect position to see how his city is changing every day. up to seven days a week, he helps people, rich or poor, move themselves and their property. once everything is packed and loaded, he drives his moving van through the metropolis of 15 million. that drive can take several hours. >> i have more jobs than ever before. the rich are taking over whole districts in the city and pushing out the poor, but for my business, that is good. >> his workplace, istanbul, covers 2392 square kilometers. its symbol is in a building boom. for the last 10 years, it
Feb 2, 2013 6:00am PST
it for the exercise. >> biden came to dispel fears that the united states would neglect europe due to increasing focus on asia. >> europe is a cornerstone of our engagement with the world and a catalyst for mobile cooperation. -- global cooperation. we need to work together. we need to stick together. we need you as much as you need us. >> biden will also meet the us envoy to syria -- un envoy to syria. up until now, russia has been the biggest supporter of the syrian president's regime. >> our chief political correspondent is in munich following the talks. melinda, thanks for being with us. russians and americans are expected to talk about syria. can you expect progress? >> on the basis of what we heard this morning, certainly the talks will be difficult. we heard in the report vice president biden calling for asa ad to step down, the russian prime minister said people putting priority on him stepping down is the main reason this conflict is prolonged. they are due to meet later this afternoon, but it is clearly difficult for them to come to any agreement on what conditions need to be imposed if any.
Feb 19, 2013 9:00pm PST
. >> reporter: dale herd spoke with religious leaders in europe about the future pope. >> reporter: all of europe is abuzz over hugh the next pope might be, and what this will mean for the direction of the church. >> what do you ask most about the pope with these reporters? what do they all want to know? >> how the future pope should be like. my answer to that is he should be tremendously intelligent, and a person able to draw a bridge between the foundation and the faith of the church. and modern life. >> reporter: contenders include angelo scola, and cardinal mark ouel let. several names are surfacing from asia, africa, and latin-america. including cardinal le nard doe santri. and tim dolan from new york. however, being from a world super power could hurt his chances. it's the first time in six centuries that the cardinals will choose a pope while the previous one is still alive. benedict's resignation shocked the world. the 85-year-old pontiff has slowed down significantly in recent years, but the vatican stressed that no specific medical condition prompted this decision. >> he certa
Feb 25, 2013 10:30am PST
marshall foundation to go to europe and to meet with policymakers in brussels and other points in europe to share ideas that we had from the united states. and it was a remarkably fruitful exchange and i think many of us that went on that trip brought back ideas to the united states that we are trying to legislate here locally. i'm also excited to see all of you here in part because some of you know, i'm one member of the board that doesn't have a car, that rides my bicycle many days of the week -- [applause] >> and like all of you, i think we are remarkably excited about the fact that the bike plan is moving forward, the fact that today is the start of the trial on market street, the fact that we are really moving our city's biking agenda forward. and i think with those of our friends from europe, we all want to take this to the next level and figure out what are the best ideas that we can adopt from the great cities around the world. we know that in recent years, i think san francisco with the help of our community advocates from the bike coalition and other advocates were really tryin
Feb 2, 2013 7:00pm EST
in europe. heathrow serves 70 million passengers a year. many of them using it as a hub, en route to the rest of the globe. but rifle airports across europe aren't standing still and their growth threatens heathrow's status as a global airport. >> long before sky bridges or duty-free were even words london's airport was in the south of the city. these pictures were shot in 1920 and these are the earliest ever air passengers who flew between amsterdam and croiden which is where most of the battle of britain was coordinated. in fact, king george vi trained here as a pilot. now it's a museum in the middle of an industrial estate. but the alfewer to adapt, it was literally grass fields, meant a close after the war to be replaced by an r.e.f. facility in west london called heathrow. other large airports also developed around the capital, notably gadwick, but they aren't hubs because all passengers using those airports start or end their sunny journey there. heathrow, like it or loath it, is britain's only true hub airport where travelers can connect with flights to almost anywhere in t
Feb 13, 2013 7:00am EST
.7 billion, that is what france's biggest carmaker loss last year. plus europe continues to be bogged down in recession. all of this has the french government up at night as they refuse to allow the company to close factories and cut jobs. ♪ >> it is midday in london, 7:00 a.m. in washington, 1:00 in the afternoon in italy, where the pope received a lengthy ovation at his first appearance after announcing his resignation. he repeated what he told cardinals on monday, that he simply did not have the strength to continue his duties. adam johnson is in the vatican for us and joins us now. quite a moving experience for those present? >> indeed. we are here in rome at the start of a fortnight, the likes of which catholic churches have not seen in the modern history, where worshipers around the world will effectively be saying goodbye to pope benedict. and he will be carrying out all of his schedule appointments during that time at the moment but he leaves the vatican this evening as of the last day of this month, and the first of those on schedule appointments, just off the square the you see
Feb 5, 2013 9:00am EST
, with melissa lee, jim cramer is here, and david faber. europe stabilizing as service pmi showing overall slowing of contraction. in china, services pmi accelerating to 54. as markets climb back from the s&p's worst day since november, is today's market going to demonstrate investors' willingness to buy the shallowest of dips. >> the business that accounts for half of sales down 6% for the recent quarter. >> justice department's lawsuit raising all kinds of questions. is this payback for downgrading the sovereign debt? >> and will today bring news of a dell lbo, and if it happens, what is the effect on equity markets, credit markets, the pc sector and michael dell himself. >> we start with the markets today. futures off the highs of the morning. the biggest decline of the year so far. s&p fell back below 1,500. the markets topped out, or is there more room to run for the bulls. jim is back from new orleans and other exotic locales. >> oh, yeah. >> good to have you back. >> thank you, carl, good to be back. >> are we in a new kind of environment? >> i think there's some program selling. th
Feb 22, 2013 4:00am EST
happened recently in europe where we had very bad gdp numbers. we had weaker pmi data than assumed and, therefore, it was data on this side. if the ifo would have come on the weaker side, then i think under those circumstances, people would have been quite negative for european credit. but, of course, you would have negative economic growth implication implications and the credit issue might come back. therefore, this was very important for us to stay in positive risk environment. >> hans, we're seeing the response to the upside now. second highs, 1.32. are you sticking by your thoughts that it is still heading towards 1.30? >> we have to make it clear that in the next quarter or two the euro has upside potential and not downside potential. then the longer prospect for the euro is still very swb very negative. why is this euro overshoot taking place? it has a lot to do with the increasing negative correlation with the yen. so the euro is the anti-yen. that implies that when we were seeing the yen coming under selling pressure, japanese investors, where are they currently investing? inv
Feb 4, 2013 9:00am EST
did top 14,000 on friday for the first time in more than five years. look at europe, that's where the story's going to be for most of the morning before we close at 11:30 eastern time. germany taking it down 1,100 points as well. asia got action as well as china. nonmanufacturing came in better than expected. clearly the story is going to be in europe for most of the morning. >> we've certainly seen a flight to safety take place this morning, as we've seen the bond yields, particularly the spanish 10-year bond yields blowing out overnight. we're seeing bids higher today. german bonds also higher. the 10-year yield in the united states, back below 2% at this point. >> we're nowhere near the yields that we saw at the end of 2011, of course. and that we dealt with so often in the second quarter of last year, in terms of the crisis atmosphere that engulfed up. and in europe, and in this market. still far from that, but interesting that we are revisiting europe in a way perhaps that people had become almost inured, but expecting we would not be. >> if you're looking for details on what
FOX Business
Feb 13, 2013 4:00pm EST
to take off, and the ceo of choice hotels says forget china, europe, i say europe is where the growth is. liz: okay. we've heard that. we'll see. first, what drove the markets in today's data download. a mixed day, but more green than red in the last couple minutes here. nasdaq snapped a two-day losing streak, and s&p 500 eking out gains, but dow unable to maintain yesterday's momentum. falling into the red, industrials and materials were today's top performing sectors, and telecom and financials lagged. metals, platinum driving higher, widening the premium to gold to a 17-month high, renewed concerns that supplies will shrink boosting the metal 12.50 # an ops after a $21 jump yesterday for platinum. platinum used in the auto industry, not just for earrings anymore. retail sales growth slowing in january as higher taxes and gasoline prices did hurt spending. the commerce department reporting retail sales edged up a tenth of a percent following a half percent gain in december. ashley: i left the earrings at home. joe is in the pits of the cme and market panel today, david, partners, ceo a
FOX Business
Feb 4, 2013 3:00pm EST
the 1500 mark right now. what is behind the weakness. place the blame on europe. structural reforms may be put on hold, especially if italian prime minister berlusconi gets back into office. he is a contender in general elections that will take place later this month. then you add to that question about the corruption in spanish prime minister's office. take a look at $1.35. four trading sessions ago we were at $1.37. the euro taking a hit down more than a full cent versus the dollar. biggest drop in more than two weeks. because we're seeing a stronger dollar, what else are we seeing? a flight to quality bid in treasuries. ten year yield now below 2%. uncertainty back in europe. so should you the investor run screaming away from euro fears again? david darst chief investment strategist at morgan stanley waiting in the wings. he has some advice that might surprise you. he has five names he believes you can take advantage of right now that no matter what happens in europe, and by the way, he's not worrying about europe, will actually help your portfolio. speaking of not worrying about eur
Feb 6, 2013 4:30pm PST
's hope for a rebound this year. at the same time economic data from china and europe has been improving, all of which could boost global energy demand. triple-a predicts prices at the pump will keep climbing, topping out somewhere between $3.60 and $3.80 a gallon this spring. but traders say if you want a quick way to know where prices are headed, watch the stock market: >> oil prices look at equity market as a proxy for demand, or future demand. we are at 14,000 in the dow, no coincidence that we are at the highs of the energy market as well. >> reporter: and the higher price of gasoline comes as workers have less take-home pay, because of the expiration of a payroll tax holiday. so will consumers be forced to cut back spending, hurting economic growth, and stock market performance? >> not necessarily, because rising gasoline prices is usually predicated on a weaker dollar or better economic activity. better economic activity would lead to higher earnings. >> reporter: wolfberg says crude prices would have to jump $10 a barrel, or roughly 10%, before there's a major hit to the u.s. eco
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